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of garments and weapons—that's where I got these clothes and this blade—heaps of coins and gems and gold ornaments, and in the midst of all, the jewels of Tothmekri gleaming like frozen starlight! And old Tranicos and his eleven captains sitting about an ebon table and staring at the board, as they've stared for a hundred years!'

      'What?'

      'Aye!' he laughed. 'Tranicos died in the midst of his treasure, and all with him! Their bodies have not rotted nor shriveled. They sit there in their high boots and skirted coats and lacquered hats, with their wineglasses in their stiff hands, just as they have sat for a century!'

      'That's an unchancy thing!' muttered Strom uneasily, but Zarono snarled: 'What boots it? It's the treasure we want. Go on, Conan.'

      Conan seated himself at the board, filled a goblet and quaffed it before he answered.

      'The first wine I've drunk since I left Conawaga, by Crom! Those cursed Eagles hunted me so closely through the forest I had hardly time to munch the nuts and roots I found. Sometimes I caught frogs and ate them raw because I dared not light a fire.'

      His impatient hearers informed him profanely that they were not interested in his adventures prior to finding the treasure. He grinned hardly and resumed: 'Well, after I stumbled onto the trove I lay up and rested a few days, and made snares to catch rabbits, and let my wounds heal. I saw smoke against the western sky, but thought it some Pictish village on the beach. I lay close, but as it happens, the loot's hidden in a place the Picts shun. If any spied on me, they didn't show themselves.

      'Last night I started westward, intending to strike the beach some miles north of the spot where I'd seen the smoke. I wasn't far from the shore when that storm hit. I took shelter under the lee of a rock and waited until it had blown itself out. Then I climbed a tree to look for Picts, and from it I saw your carack at anchor, Strom, and your men coming in to shore. I was making my way toward your camp on the beach when I met Galacus. I shoved a sword through him because there was an old feud between us. I wouldn't have known he had a map, if he hadn't tried to eat it before he died.

      'I recognized it for what it was, of course, and was considering what use I could make of it, when the rest of you dogs came up and found the body. I was lying in a thicket not a dozen yards from you while you were arguing with your men over the matter. I judged the time wasn't ripe for me to show myself then!'

      He laughed at the rage and chagrin displayed in Strom's face.

      'Well, while I lay there, listening to your talk, I got a drift of the situation, and learned, from the things you let fall, that Zarono and Valenso were a few miles south of the beach. So when I heard you say that Zarono must have done the killing and taken the map, and that you meant to go and parley with him, seeking an opportunity to murder him and get it back—'

      'Dog!' snarled Zarono. Strom was livid, but he laughed mirthlessly.

      'Do you think I'd play fairly with a treacherous dog like you?—Go on, Conan.'

      The Cimmerian grinned. It was evident that he was deliberately fanning the fires of hate between the two men.

      'Nothing much, then. I came straight through the woods while you tacked along the coast, and raised the fort before you did. Your guess that the storm had destroyed Zarono's ship was a good one—but then, you knew the configuration of this bay.

      'Well, there's the story. I have the treasure, Strom has a ship. Valenso has supplies. By Crom, Zarono, I don't see where you fit into the scheme, but to avoid strife I'll include you. My proposal is simple enough.

      'We'll split the treasure four ways. Strom and I will sail away with our shares aboard the Red Hand. You and Valenso take yours and remain lords of the wilderness, or build a ship out of tree trunks, as you wish.'

      Valenso blenched and Zarono swore, while Strom grinned quietly.

      'Are you fool enough to go aboard the Red Hand alone with Strom?' snarled Zarono. 'He'll cut your throat before you're out of sight of land!'

      Conan laughed with genuine enjoyment. 'This is like the problem of the sheep, the wolf and the cabbage,' he admitted. 'How to get them across the river without their devouring each other!'

      'And that appeals to your Cimmerian sense of humor,' complained Zarono.

      'I will not stay here!' cried Valenso, a wild gleam in his dark eyes. 'Treasure or no treasure, I must go!'

      Conan gave him a slit-eyed glance of speculation. 'Well, then,' said he, 'how about this plan: we divide the loot as I suggested. Then Strom sails away with Zarono, Valenso, and such members of the Count's household as he may select, leaving me in command of the fort and the rest of Valenso's men, and all of Zarono's. I'll build my own ship.' Zarono looked slightly sick.

      'I have the choice of remaining here in exile, or abandoning my crew and going alone on the Red Hand to have my throat cut?'

      Conan's laughter rang gustily through the hall, and he smote Zarono jovially on the back, ignoring the black murder in the buccaneer's glare.

      'That's it, Zarono!' quoth he. 'Stay here while Strom and I sail away, or sail away with Strom, leaving your men with me.'

      'I'd rather have Zarono,' said Strom frankly. 'You'd turn my own men against me, Conan, and cut my throat before I raised the Barachans.'

      Sweat dripped from Zarono's livid face. 'Neither I, the Count, nor his niece will ever reach the land alive if we ship with that devil,' said he. 'You are both in my power in this hall. My men surround it. What's to prevent me cutting you both down?'

      'Not a thing,' Conan admitted cheerfully. 'Except the fact that if you do Strom's men will sail away and leave you stranded on this coast where the Picts will presently cut all your throats; and the fact that with me dead you'll never find the treasure; and the fact that I'll split your skull down to your chin if you try to summon your men.'

      Conan laughed as he spoke, as if at some whimsical situation, but even Belesa sensed that he meant what he said. His naked cutlass lay across his knees, and Zarono's sword was under the table, out of the buccaneer's reach. Galbro was not a fighting rnan, and Valenso seemed incapable of decision or action.

      'Aye!' said Strom with an oath. 'You'd find the two of us no easy prey. I'm agreeable to Conan's proposal. What do you say?'

      'I must leave this coast!' whispered Valenso, staring blankly. 'I must hasten—I must go—go far—quickly!'

      Strom frowned, puzzled at the Count's stranger manner and turned to Zarono, grinning wickedly: 'And you Zarono?'

      'What can I say?' snarled Zarono. 'Let me take my three officers and forty men aboard the Red Hand, and the bargain's made.'

      The officers and thirty men!'

      There was no shaking of hands, or ceremonial drinking of wine to seal the pact. The two captains glared at each other like hungry wolves. The Count plucked his mustache with a trembling hand, rapt in his own somber thoughts. Conan stretched like a great cat, drank wine, and grinned on the assemblage, but it was the sinister grin of a stalking tiger. Belesa sensed the murderous purposes that reigned there, the treacherous intent that dominated each man's mind. Not one had any intention of keeping his part of the pact, Valenso possibly excluded. Each of the freebooters intended to possess both the ship and the entire treasure. Neither would be satisfied with less. But how? What was going on in each crafty mind? Belesa felt oppressed and stifled by the atmosphere of hatred and treachery. The Cimmerian, for all his ferocious frankness, was no less subtle than the others—and even fiercer. His domination of the situation was not physical alone, though his gigantic shoulders and massive limbs seemed too big even for the great hall. There was an iron vitality about the man that overshadowed even the hard vigor of the other freebooters.

      'Lead us to the treasure!' Zarono demanded.

      'Wait a bit,' answered Conan. 'We must keep our power evenly balanced, so one can't take advantage of the others. We'll work it this way: Strom's men will come ashore, all but half a dozen or so, and camp on the beach. Zarono's men will come out of the fort, and likewise camp on the strand, within easy sight

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